Manchester Capital Management LLC Invests $63,000 in Penn National Gaming, Inc (PENN) Stock

Manchester Capital Management LLC purchased a new stake in shares of Penn National Gaming, Inc (NASDAQ:PENN) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 3,155 shares of the company’s stock, valued at approximately $63,000.

A number of other large investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its holdings in Penn National Gaming by 9.7% during the fourth quarter. Advisors Asset Management Inc. now owns 4,714 shares of the company’s stock valued at $89,000 after purchasing an additional 417 shares during the period. BB&T Securities LLC boosted its stake in shares of Penn National Gaming by 4.6% in the fourth quarter. BB&T Securities LLC now owns 16,256 shares of the company’s stock worth $306,000 after acquiring an additional 713 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Penn National Gaming by 2.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,270 shares of the company’s stock worth $870,000 after acquiring an additional 1,087 shares during the period. Quantamental Technologies LLC bought a new position in shares of Penn National Gaming in the fourth quarter worth about $25,000. Finally, Texas Permanent School Fund boosted its stake in shares of Penn National Gaming by 2.0% in the first quarter. Texas Permanent School Fund now owns 72,193 shares of the company’s stock worth $1,451,000 after acquiring an additional 1,415 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

In other news, insider Jay A. Snowden purchased 10,875 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $19.51 per share, with a total value of $212,171.25. Following the completion of the purchase, the insider now owns 104,433 shares in the company, valued at $2,037,487.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William J. Fair purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $19.54 per share, with a total value of $214,940.00. Following the completion of the purchase, the chief financial officer now owns 46,998 shares of the company’s stock, valued at approximately $918,340.92. The disclosure for this purchase can be found here. 10.56% of the stock is currently owned by corporate insiders.

PENN has been the subject of a number of recent analyst reports. Bank of America raised Penn National Gaming from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. BidaskClub raised Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Morgan Stanley set a $25.00 price objective on Penn National Gaming and gave the stock a “hold” rating in a research note on Thursday, February 14th. Finally, ValuEngine lowered Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.60.

NASDAQ PENN opened at $20.83 on Friday. The stock has a market capitalization of $2.44 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.85. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78. Penn National Gaming, Inc has a twelve month low of $17.30 and a twelve month high of $36.90.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.48 EPS. The business’s revenue was up 57.2% on a year-over-year basis. Equities research analysts predict that Penn National Gaming, Inc will post 1.47 earnings per share for the current fiscal year.

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Penn National Gaming Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Institutional Ownership by Quarter for Penn National Gaming (NASDAQ:PENN)

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